Amazon Stock Jumps As NBA Signs Prime Video Broadcasting Deal: What You Need To Know

Benzinga News 25/07/2024 05:28

Amazon.com Inc (NASDAQ:AMZN) shares are rising in Wednesday’s after-hours session after the National Basketball Association (NBA) announced a deal in which Prime Video will telecast NBA games over the next decade.

What Happened: The NBA announced a renewal of its partnership with Walt Disney Co (NYSE:DIS), as well as new agreements with NBCUniversal and Amazon under which ABC/ESPN, NBC/Peacock and Prime Video will telecast NBA games beginning with the 2025-26 season. The deal is set to remain in place through the 2035-36 season.

“Our new global media agreements with Disney, NBCUniversal and Amazon will maximize the reach and accessibility of NBA games for fans in the United States and around the world," said NBA Commissioner Adam Silver.

"These partners will distribute our content across a wide range of platforms and help transform the fan experience over the next decade."

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Under the new deal, Amazon will distribute 66 NBA regular-season games on Prime Video each season. In addition, Prime Video is now set to stream the Championship Game of the Emirates NBA Cup.

Amazon’s Prime Video will also distribute all six NBA Play-In Tournament games and stream approximately one-third of the first and second rounds of the playoffs each year. Prime Video will also stream one of the two Conference Finals series in six of the 11 years on a rotating basis with NBCUniversal.

Amazon plans to distribute NBA games globally as part of Prime Video and offer an expanded package of games in select territories. The expanded package includes a minimum of 20 additional primetime regular season games each year, a Conference Finals series each year and the NBA Finals in six of the 11 years.

The NBA also announced that Amazon’s Prime Video will become a strategic partner of the NBA, making it the third-party global destination of NBA League Pass.

AMZN Price Action: Amazon shares were up 0.42% after hours at $181.59 at the time of publication Wednesday, according to Benzinga Pro.

Photo: Shaheerrr from Shutterstock.

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